Falcon Oil & Gas (CVE:FO) Sets New 1-Year High - Still a Buy?

Key Points

• Falcon Oil & Gas hit a new 52-week high, trading as high as C$0.36 and last at C$0.35 on heavy volume (~1.2M shares), a reported intraday gain of 19.3%.
• The company has a market capitalization of C$397.07 million, very low leverage (debt-to-equity 0.03) but a negative valuation metric (PE -119.33), with 50- and 200-day moving averages at C$0.26 and C$0.22 respectively.
• Falcon focuses on unconventional oil and gas exploration with assets in Australia (22.5% interests across ~1 million net acres in the Beetaloo Sub-basin), a 100% technical cooperation permit in South Africa’s Karoo Basin (~30,328 km²), and a 100% Makó production license in Hungary (~995 km²).

Falcon Oil & Gas Ltd. (CVE:FO - )'s stock price reached a new 52-week high during trading on Friday . The company traded as high as C$0.36 and last traded at C$0.35, with a volume of 1195368 shares trading hands. The stock had previously closed at C$0.30.

Falcon Oil & Gas Trading Up 19.3%

The business has a fifty day moving average price of C$0.26 and a two-hundred day moving average price of C$0.22. The company has a current ratio of 2.29, a quick ratio of 51.52 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of C$397.07 million, a PE ratio of -119.33 and a beta of 1.18.

Falcon Oil & Gas Company Profile

Falcon Oil & Gas Ltd., an oil and gas company, engages in the exploration and development of unconventional oil and gas assets in Australia, South Africa, and Hungary. The company holds 22.5% interests in three exploration permits covering an area of approximately 1 million net acres in the Beetaloo Sub-basin, Northern Territory, Australia. It also holds a 100% interest in the technical cooperation permit covering an area of approximately 30,327.9 square kilometers in the southwest Karoo Basin, South Africa; and a 100% interest in the Makó production license covering an area of approximately 994.6 square kilometers in the Makó Trough located in south-eastern Hungary.

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